September 29, 2017 / 2:15 AM / in 23 days

Singapore August bank lending up 0.3 pct

SINGAPORE, Sept 29 - Singapore’s total bank lending in August rose 0.3 percent from July, on the back of higher loans to financial institutions, central bank data showed on Friday.

Loans and advances by domestic banking units in the city-state amounted to S$634.4 billion ($466.81 billion) last month, up from S$632.6 billion in July.

Bank lending in August rose 5.1 percent from a year earlier.

Loans and advances in Asian currency units (ACU) rose to S$569.1 billion in August from S$553.4 billion in July. It was at S$523.1 billion a year earlier.

The ACU market refers to loans denominated in currencies other than the Singapore dollar. ($1 = 1.3590 Singapore dollars) (Reporting by Fathin Ungku; Editing by Gopakumar Warrier)

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